What do I need to do in the process of having a credit check run? October 18, 2009
Posted by Banking in : Renting & Real Estate , trackbackSalexS asked:
I am renting a house with several other girls. The landlords want to run a credit check on us and our parents. Do we need to sign anything for them to be able to run it?
Also, the landlords want a parent to co-sign on the lease because we are students. My parents won’t sign anything to help me out. Is a co-signer necessary? Could one of the other girl’s parents co-sign for me?
Thank you!
Comments»
a co-signer, is normally a person who is your guarantor, to pay for rent/damages should you not.
as a student, i wouldnt imagine you would have a credit history, as you cant get credit till your 18 anyway
they may wish to check the guarantor.
I don’t think it matters who co-signs for you, as long as they have credit. No they cannot run a credit check without your consent, but if you signed a rental application, you probably gave consent. Co-signers are nessesary if the property owner’s say so. It is there choice who they rent to as long as they don’t discriminate against race, gender, religion or handicap. Sorry, too young is not covered.
Once you rent your own place and have credit and a refrence (if every thing turns out ok at your new place). You will not need a co-signer anymore.
I think If you can get someone else to co-sign for you other than a parent that should work. Or– just let the owner know your situation and maybe strike a deal without a co-signer, for example, increase of security deposit.